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Estimation of the Treatment Effects of Ownership on the Indirect Financing of Small- and Medium-Sized Enterprises

Xiuzhen Wang, Yi Hu, Xiaohua Xia, Ying Deng
2014 Discrete Dynamics in Nature and Society  
In this paper, based on microdata from China Industrial Enterprise Database, propensity score matching (PSM) method is adopted to conduct empirical analysis about the treatment effects of indirect financing  ...  In particular, the indirect financing rate of state-owned enterprises is 1.4% higher than that of other enterprises, and the indirect financing rate of foreign-funded enterprises is 6% lower than that  ...  Acknowledgment This work was partially supported by the National Natural Science Foundation of China (Grant nos. 71301160 and 71203224) and China Postdoctoral Science Foundation funded project (Grant nos  ... 
doi:10.1155/2014/453458 fatcat:6hlp7lcwcbdmjbzandx7tweybm

Formal Finance Usage and Innovative SMEs: Evidence from ASEAN Countries

Muhammad Arif, Mudassar Hasan, Ahmed Shafique Joyo, Christopher Gan, Sazali Abidin
2020 Journal of Risk and Financial Management  
The resulting propensity scores are further used to perform the causal effect analysis based on the average treatment effect (ATE) approach, which measures the likelihood of formal finance usage among  ...  This paper provides evidence on the likelihood of formal finance usage among innovative small and medium enterprises (SMEs) operating in ASEAN countries.  ...  SME finance-innovation nexus and propensity scores.  ... 
doi:10.3390/jrfm13100222 doaj:654b1c6f21f54ac9840595cab4a63ee7 fatcat:vmxyddarzvb4phss6jw5iwf75m

IMPACT OF ISLAMIC BANKING INCLUSION ON SME EMPLOYMENT GROWTH IN NIGERIA

Tasiu Tijjani Sabiu, Muhamad Abduh
2021 Journal of Islamic Monetary Economics and Finance  
Using difference-in-difference and propensity score matching techniques to deal with selection bias, the study found significant positive effects on MSMEs' employment growth.  ...  A survey based on a quasi- experimental approach was employed and the data were collected by means of a questionnaire distributed to a sample of 385 MSMEs' beneficiaries and non-beneficiaries of Islamic  ...  To obtain bias-free results, we matched the treated and control groups based on the kernel propensity score weight, with each beneficiary MSME matched with all the groups of non-beneficiary MSMEs.  ... 
doi:10.21098/jimf.v7i1.1354 fatcat:jkufv2cihbhxrejiczrzux6dp4

Innovation Vouchers and the Sustainable Growth of High-Tech SMEs: Evidence from China

Di Tian, Xiaohan Guo, Peng Wang
2021 Sustainability  
We believe that our study yields novel evidence and sheds further light on the important policy implications of innovation vouchers to facilitate the sustainable growth of SMEs.  ...  We report that the effects of innovation vouchers on financial performance are more prominent for SMEs with limited external informational resources.  ...  Data Availability Statement: The data presented in this study are available on request from the corresponding author. Conflicts of Interest: The authors declare no conflict of interest.  ... 
doi:10.3390/su132011176 fatcat:jrnwaesxenerlp45t5mvu4hxhu

The impact on wages, employment and exports of backward linkages between multinational companies and SMEs

Juan Carlos Leiva, Ricardo Monge-González, Juan Antonio Rodríguez-Álvarez
2018 CEPAL Review  
The impacts were measured by reference to real average wages, employment demand and the probability of exporting, using a combination of fixed effects and propensity score matching with panel data on treated  ...  This paper estimates the impact of a programme, Costa Rica Provee, that seeks to increase backward linkages between small and medium-sized enterprises (SMEs) and MNCs in Costa Rica.  ...  To estimate the impact of support on SME performance, we combine propensity score matching with a fixed effects model.  ... 
doi:10.18356/2eaac4f4-en fatcat:x4gcanq2vza4bl45juq4dkgdvy

Determinants of International Activities: Are SMEs Different?

Heinz Hollenstein
2005 Small Business Economics  
However, the knowledge-base on which O-advantages of smaller firms rests is more narrow than that of large companies.  ...  O-advantages turn out to be the main drivers of internationalisation, irrespective of firm size and internationalisation strategy.  ...  Comments of staff members of WIFO and by Spyros Arvanitis (Swiss Federal Institute of Technology) as well as two anonymous referees are gratefully acknowledged.  ... 
doi:10.1007/s11187-005-6455-x fatcat:mqkvxxzlnrfl3ihr2ueldiodvi

SME policy and competitiveness in Hungary

Bruno Dallago
2011 International Journal of Entrepreneurship and Small Business  
Starting from 1 January 2005, SMEs definition became more refined on financial and ownership issues.  ...  was based on flow of external funds and internal consumption largely funded through loans.  ... 
doi:10.1504/ijesb.2011.041661 fatcat:jtwuyisn6rapdg6f7ak3wkzkya

The local dimension to SME and entrepreneurship policy in Mexico [chapter]

2013 OECD Studies on SMEs and Entrepreneurship  
(propensity score matching)-they found significant net improvements in total factor productivity growth (TFP) ranging from 11.7 to 22.9 percent.  ...  Using nonexperimental data drawn from innovation and industrial surveys linked to firm balance sheets and patent databases, Maffioli used a variety of econometric techniques (propensity scores matching  ...  The Sectorial Funds are made possible by a special tax on corporate earning from licensing on government-owned natural resources, with participating firms contributing matching contributions..  ... 
doi:10.1787/9789264187030-11-en fatcat:nawzfowtg5gzddz3nyzbl4jy4q

Unlocking SME finance through market-based debt

Iota Kaousar Nassr, Gert Wehinger
2015 OECD Journal Financial Market Trends  
This article reviews the spectrum of alternative market-based debt instruments for SME financing.  ...  This work contributes to the report on "New approaches to SME and entrepreneurship finance: broadening the range of instruments" which is part of the OECD-wide "New Approaches to Economic Challenges" (  ...  to the fostering of market-based SME financing overall.  ... 
doi:10.1787/fmt-2014-5js3bg1g53ln fatcat:lpzlvyo2yvhp7orrdmnp5keuvq

Organisation profiles [chapter]

OECD, European Union, European Training Foundation, European Bank for Reconstruction and Development
2020 SME Policy Index  
on beneficial ownership.  ...  The scoring methodology is provided in Annex A. Note: Dimension scores are presented based on the five levels of policy reform (see Table 25 ).  ...  Methodology for the Small Business Act assessment Scoring methodology The SME Policy Index 2020 contains scores at the level of dimensions and sub-dimensions and uses two separate scoring methodologies  ... 
doi:10.1787/7e35965b-en fatcat:kp55eaj3gzewfjv6rnqonp6ggy

Investing in formal on-the-job training: are SMEs lagging much behind?

Rita K Almeida, Reyes Aterido
2015 IZA Journal of Labor & Development  
Our findings call for the urgency of collecting better panel data sets to understand how cost-effective are on-the-job training programs in fostering firm productivity and growth in developing countries  ...  and across countries with very different institutions and levels of development.  ...  We also thank participants at a World Bank HDNSP seminar and at the 5 th IZA-WB conference on Employment and Development in South Africa.  ... 
doi:10.1186/s40175-015-0029-3 fatcat:jvwn5d3drneulcirbiv6olprnu

Cyclicality of SME lending and government involvement in banks

Patrick Behr, Daniel Foos, Lars Norden
2017 Journal of Banking & Finance  
Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects on financial stability and the real economy.  ...  We investigate the cyclicality of SME lending by local banks with vs. without a public mandate, controlling for location, size, loan maturity, funding structure, liquidity, profitability, and credit demand-side  ...  Additionally, in the least-squares estimate of Model (6), observations are weighted by their frequency in a propensity score-matched sample (PSM).  ... 
doi:10.1016/j.jbankfin.2017.01.010 fatcat:2m7vlwspobfavcnhlsl6vwrrdi

The Effect of Internationalization on Modeling Credit Risk for SMEs: Evidence from UK Market

Jairaj Gupta, Andros Gregoriou, Jerome Healy
2012 Social Science Research Network  
Thus, this thesis presents four essays on SMEs insolvency risk starting from chapter 3 through chapter 6 that investigates different dimensions of their default risk.  ...  In light of the new Basel Capital Accord, Small and medium size enterprises (SMEs) play a fundamental role in the economic performance of major economies.  ...  Since the beginning of this precious and valuable  ... 
doi:10.2139/ssrn.2189200 fatcat:dfrti5mqvzf7hnruspoo6vkaie

Cyclicality of SME Lending and Government Involvement in Banks

Patrick Behr, Daniel Foos, Lars Norden
2015 Social Science Research Network  
Recent regulatory efforts aim at lowering the cyclicality of bank lending because of its potential detrimental effects on financial stability and the real economy.  ...  We investigate the cyclicality of SME lending by local banks with vs. without a public mandate, controlling for location, size, loan maturity, funding structure, liquidity, profitability, and credit demand-side  ...  Additionally, in the least-squares estimate of Model (6), observations are weighted by their frequency in a propensity score-matched sample (PSM).  ... 
doi:10.2139/ssrn.2640679 fatcat:dm4kf2xudngmhhrnrm6c3lyvpq

Capital Markets Union and Small and Medium-Sized Enterprises (SMEs): A Preliminary Assessment

Pierre Schammo
2015 Social Science Research Network  
Acknowledgements As in the previous years, we would like to thank all the people and institutions that have helped to make the conference and the book possible.  ...  Our special thanks go to Daniela Bernardo, Francesca Elia, Christopher Trollen, Elisabetta Spagnoli, Annika Zorn, the Robert Schuman Centre for Advanced Studies (RSCAS) and the European University Institute  ...  For instance, 53 per cent of SMEs were aware of venture capitalists, and 52 per cent were aware of asset based finance.  ... 
doi:10.2139/ssrn.2605549 fatcat:sght43vm5bd3lczkg64ziegkoi
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